How Do I Become a Senior Financial Analyst?

In order to become a senior financial analyst, you first have to build an educational foundation and gain experience as a junior financial analyst. A financial analyst conducts a lot of research, watches trends, and evaluates historical data to determine moves that should be made with company stocks and other types of investments.

If you are not currently working as a financial analyst, then your first step is to earn a business, finance, or accounting degree. You will want to take courses in economics and various types of financial matters that teach you analytical thinking, analysis, and research skills. Other areas of study that might not seem directly related but which can help you learn the needed skills include biology, engineering, physics, and computer science. These are undergrad degrees that typically help you get your foot in the door as a junior analyst. If you have your MBA, you can typically skip right over being a junior financial analyst and get a more senior position immediately.

Next, you will want to start to study for two licensing exams that are required to become a senior financial analyst: the Series 7 exam and the Series 63 exam. You will need to pass both, and even after you do, there are continuing education courses that you have to take to keep your licenses up-to-date. You will not be able to get your licenses until you are employed by a financial firm because a professional sponsor is required.

Once you have your degree and have started preparing to pass your licensing exams, you can start to look for employment opportunities. Primarily, investment firms hire junior and senior analysts. If you can get hired as a junior financial analyst and gain some experience with the firm then you may be able to work your way up to a senior position with the same company through a promotion, or by applying to another company that has an opening.

Insurance companies and other types of financial companies also hire financial analysts. Typically, these types of companies also have a level that separates the junior financial analysts from the senior. A senior financial analyst typically has more responsibility, and often supervises or is responsible for training or mentoring junior financial analysts with the company.